The US on Tuesday launched “powerful strikes” on Iran and canceled its lucrative oil waiver in “heavy” payback for Tehran attacking ships in the Strait of Hormuz.
The Trump administration called Tehran’s firing of missiles and drones at three commercial ships “wholly unacceptable,” and a violation of the ceasefire terms set out through the Memorandum of Understanding signed last month.
The US hit Iran both militarily and financially in response.
“The Office of Foreign Assets Control is revoking GL X, which authorized the sale of Iranian oil,” a US official told The Post. “As President Trump and the administration have repeatedly affirmed, the MOU in effect with Iran is entirely performance-based.”
Shortly after, US Central Command said its forces had “begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway.”
“Iran’s demonstrated aggression was unwarranted, dangerous, and a clear violation of the ceasefire,” it said.
An Iranian state-run media outlet reported several explosions being heard near the coastal city of Sirik and on the island of Qeshm in southern Iran, according to Al Jazeera.
The last round of US military strikes in Iran took place late last month, in response to the regime’s drone attack against a cargo ship in the Strait of Hormuz.
Iranian drone storage facilities and coastal radar sites were hit by US warplanes in the June 26 airstrikes.
The restart of the military campaign comes after Iran on Monday fired weapons at two commercial ships — both tankers from the United Arab Emirates and Saudi Arabia, respectively, following up with an attack on a Qatar-flagged tanker on Tuesday.
Each caused damage, with the projectiles sparking fires onboard.
“Iran will only reap benefits if they exhibit good behavior,” the US official said. “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences.”
The sanctions waiver and a cease-fire were key provisions in the US-Iran memorandum of understanding signed last month — but so was Iran reopening the strait.
The lucrative waiver for Iran brought instant relief to its desperate economy following months of a US blockade on Iranian ports in addition to the longstanding sanctions.
It was originally intended to continue through Aug. 21, giving Iran the ability to openly sell its oil for the first time since the 1990s and allowing it to pocket new profits by charging market rate.
The change was estimated to bring in an estimated $10 billion for the full two-month window of waived sanctions — without Tehran having to charge a drastically reduced rate paid under the table.
The Iranian Foreign Ministry claimed the moves were a “gross violation” of the MOU, and warned “of the consequences of America’s breach of the agreement.”
“[Iran] will take any action it deems necessary to protect its interests and national security,” it added.
It further argued that the reimposition of sanctions “is another sign of the ill intentions, instability and unreliability of the US ruling body.”
An Iranian source separately told The Post the move will likely “imperil” future peace negotiations — with another round having been tentatively scheduled for Saturday.
Still, the US official said American negotiators “continue to work in good faith towards a final deal.”
